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19-01-2025
NEW DELHI/ BENGALURU: Seven Indian privately-held startups have been chosen for a first-of-its-kind India-US space and defence collaboration program, potentially unlocking a lucrative and strategic market for Indian firms, an investor who co-launched the project told Reuters on Friday.
The companies include space imaging company KaleidEO, rocket makers EtherealX and AI-driven Company Shyam VNL. They will participate in a program for defence and dual-use technology and explore opportunities to work with the US Defense Innovation Unit, the Department of Defense and other government agencies on satellite observation and emerging space and defence technologies.
Indian investor Indus-bridge Ventures and US-based FedTech, which established the program in September 2024, selected seven Indian companies and talks are underway about specific projects.
“This program offers valuable resources, mentorship, and essential connections with industry leaders in the US and we look forward to partnering with FedTech on this initiative to accelerate private-sector partnership between the two countries in strategic sectors defence and dual-use technology,” said Rahul Devjani, the managing partner at Indus-bridge Ventures.
The startups will get access to the world’s biggest defence and space market and potentially work with US defence industry leaders like Northrop Grumman, opens new tab, Lockheed Martin, opens new tab and RTX, opens new tab, two sources from the startups said. They declined to be identified owing to the sensitivity of the matter.
That could give them an edge against the competition as they compete for US business in their niches worth about $1.5 billion annually, one of the sources said.
The U.S. government bodies did not immediately respond to emails seeking comment. The development and details of the program have not been made public before.
Lockheed and Northrop declined to comment, while RTX, formerly known as Raytheon, did not immediately respond to an email seeking comment.
Access to the US defence and space market, the largest globally, could generate annual revenues between $500 million and $1 billion for the Indian companies, the second source said.
Indian National Security Advisor Ajit Doval this month met with his US counterpart Jake Sullivan in New Delhi to discuss space technology collaboration and the “deepening cooperation between the US Defense Innovation Unit and India’s Innovations for Defense Excellence to accelerate the adoption of cutting-edge commercial technologies for military solutions,” among other topics.
Northrop Grumman Corporation is a global aerospace and defense technology company. The Company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems and Space Systems. The Aeronautics Systems segment is engaged in the design, development, production, integration, sustainment and modernization of advanced aircraft systems for the United States Air Force, the US Navy, and international customers. The Defense Systems segment is engaged in the design, development, production, integration, and production of advanced tactical weapons and missile defense solutions, and a provider of sustainment, modernization and training services for manned and unmanned aircraft and electronics systems. The Mission Systems segment is engaged in advanced mission solutions and multifunction systems. The Space Systems segment is engaged in the design, development, integration, production and operation of space, missile defense, launch and strategic missile systems. (Int’l Monitoring Desk)
